A great crowdfunder

Stuff reports:

Wellington brewer Yeastie Boys successfully tapped into $500,000 last night, less than 30 minutes after its equity crowdfunding campaign launched.

In December, the craft brewer said it expected to double turnover to about $1.5 million if it managed to raise the moneyon the PledgeMe platform.

Creative director Stu McKinlay said at the time the capital raised would be used to develop the company’s production in Britain and sales across Europe.

Last night, McKinlay rang the bell for the opening of the capital raising, and within half an hour the $500,000 mark had been reached.

“It’s great to be able to immediately refocus on making beer and getting it to the people who love it,” McKinlay said.

“It’s why we’re here and why our crowd supported us.”

The company sold a 12.5 per cent stake at a dollar a share, valuing it at about $4m.

I love how the Internet has made it so easy for companies and good causes to attract capital, and that individuals can now easily pledge support to initiatives they support and think will be successful.